Arkansas Legislators Briefed on Economic Development Districts Ballot Measure for November Election
Arkansas legislators were recently briefed on a proposed constitutional amendment, Issue 3, which will appear on the November ballot. This measure aims to allow local governments to establish economic development districts that can issue bonds to finance private development projects. The bonds would be repaid using new sales or property tax revenue generated by the development, exceeding the existing tax levels at the time the agreement is made. Republican state Senator Jonathan Dismang of Searcy, the lead sponsor, and others presented the details to a joint session of the House and Senate Committees on City, County and Local Affairs. Supporters argue that Arkansas currently lacks an effective economic development tool of this nature, leading to developers choosing neighboring states. If approved, enabling legislation would be required in early 2027 to formalize the district's operational details, potentially allowing local governments to create districts by next summer. 
